Sustainability: the important part of wealth.
We all want good things. We all want expensive things because the way the world is created is to make most things that are expensive valuable and durable, so people crave expensive things. The question is, can you afford it? Can you maintain the kind of expenses you want to put on yourself?
Life is an excellent teacher, and its lessons are inevitable. If your objective is to gather wealth by purchasing expensive things and premium items without considering their sustainability, you may eventually find yourself back where you started at ground Zero.
Many people overlook sustainability due to the perception that money will always be available, even if they lose their present job they will obtain a new one and that is why, people tend to disregard planning for their financial future like retirement, and fail to consider how to maintain their wealth and cover their expenses.
Living in a country like Nigeria, where the value of the Naira is continuously decreasing, we are facing a challenging situation with the increased cost of imported goods and expenses. The sustainability of our world is becoming more difficult to maintain with the rising expenses just imagine those that don't plan to sustain and pay for their liability, how will they survive?
If you are living in Nigeria, sustaining yourself will be difficult now if you are mainly based on your salary because the value of the naira keeps depreciating. That is why it is important to multiply our riches by investing. these enable us to avoid the sudden shock of economic crisis and help us to sustain our wealth and also pay for our liabilities.
Inflation in the prices of food and various other commodities is a common thing now all over the world. It is crucial to invest gradually and build a portfolio of assets that generate income, as it can help sustain and cover liabilities. With changing times, it's essential to diversify our income sources instead of relying on a single one.
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Well said @dwayne16.
The current situation in nigeria and other part of the world has left so many living a life where they have to hustle for daily bread only, No plans for tomorrow, next tomorrow or even the future.
The whole situation has now become a trend where the smart are getting richer and the ignorant are getting poorer.
No man becomes rich overnight. There must have being some investment or hardwork that has being laid long time back.
Without any doubt, 1 usdt would hit 1000 naira, both on binance and nigeria's exchange before august runs out.
I pray we all survive this mess 🙌.
I don't know how we are going to survive that mess, it is just getting tougher each and every day, God will see us through.
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Yeah, consciousness of sustainability is really important on the path to financial freedom or rather call it a breakthrough. Expecially for cubs, that are just navigating their paths towards financial freedom, average young mind are alway like once I earn the first million I will get my car, not considering the fact of maintenance so they tend to fail all the plan then have to start from scratch again. Elon will never use his money to buy flight of cars because there's more to that money.
Thanks for sharing, so insightful and mind blowing. Happy Sunday and hope you enjoyed your weekend 😊.
financial freedom is important but it is years of hard work and determination
Hmm, you said it all, the cost of living in Nigeria is getting really hard to cope with, and true we need other streams of income, one could think of other passive ways of making money, or else one might just die of starvation.
But the mindset of most Nigerians is to chop life when the money land, forgetting that money begets money.
That's the difference between the rich and the poor, the rich will always invest their money to make more money, but the poor will only think of today.. "Eat for tomorrow I shall die."
Thanks for sharing such an informative post.
most people remain poor because they choose they way to their stomach instead of investment
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Sustainability is something everyone needs to consider. After all, you never know when an unexpected expense happens. I prefer to be financially free so there needs to be plans for the future because you can't predict what will happen. If you suddenly lost your job, you still need a buffer to take care of yourself.
that is why it important plan head and one way to do that is to multiply our riches.
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Most of us overlook this important part about building wealth sustainably. I used to have the impression that if I can make it today then I will also be able to make it tomorrow but this is further from the truth as the environment we've living is constantly changing, removing old ways and bringing new ones. Spending money on expensive things will keep us broke for a long time.